PDO holds inaugural ICV Awards event

Major Omani oil and gas firm recognises localisation initiatives.

PDO managing director Raoul Restucci at an earlier signing ceremony to support local Omani businesses.
PDO managing director Raoul Restucci at an earlier signing ceremony to support local Omani businesses.

Petroleum Development Oman (PDO) held its inaugural In–Country Value (ICV) Awards event earlier this month to celebrate businesses and organisations which have supported Omani economic development.

The PDO competition covered a range of ICV areas, including small and medium enterprises (SMEs), local community contractors (LCCs), vendors and training institutes, and national objectives focused on the creation of jobs, training and redeployment opportunities for Omani jobseekers.

The event was held a few months before the fifth anniversary of the launch of the ICV Blueprint Strategy 2013-2020 which aims to develop a competitive and sustainable local supply market for the oil and gas industry and to foster Omani skills.

PDO is currently leading 43 out of the 53 Blueprint Strategy opportunities, 20 of which have been delivered so far. It has also identified an additional 66 internal ICV opportunities and has delivered 30 of them.

The event also included an exhibition showcasing 10 facilities supported by PDO in the area of manufacturing and servicing in the oil and gas industry. These facilities were presented as examples of the achievements and impact ICV has had in localising opportunities and its continuous contribution to the sultanate’s sustainable development and economy.

PDO managing director Raoul Restucci stated at the event: “This is a truly special event highlighting the very best of our partners who are supporting our vision of serving the nation and retaining more of the wealth the oil and gas industry generates in Oman.

“Our ICV achievements wouldn’t have been possible without the cooperation of, and support from, our valued partners and these awards provide a great opportunity to recognise their efforts.

“This year has been a banner year for ICV and we are proud of where we are today, but our ICV journey is still ongoing. Maintaining the momentum is key, and we’ll continue to ramp up our efforts to tap the full potential of ICV and to continue to proudly serve Oman.”

Tuesday’s event also celebrated PDO’s national objectives programme, which has secured more than 50,000 employment opportunities for Omanis since its launch in 2011. Trainees graduating from the programme have been able to take up full-time positions in both the oil and gas industry and other sectors of the economy.

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